What the analyst said

Raymond James analyst Aaron Kessler upgraded Alphabet (NASDAQ: GOOGL) from Outperform to Strong Buy with a price target of $400.00 (from $315.00).

“The Call: While we were constructive on checks/DOJ potential last year (LINK), our updated bottom-up analysis of GCP (GPU, TPU, PaaS) and Search (Core, AIO, AIM, Gemini) leads to a material upward revision in 2026/27 estimates with RJ sitting at the Street high for 2027 revenue, prompting an upgrade from Outperform to Strong Buy.

We believe GOOG is likely entering a cycle of improving AI Stack narrative and upward revisions that could create one of the highest quality top-line AI acceleration stories in the public universe.

Our baseline assumption for 2026 is that the AI Stack narrative and fundamental revisions will be the primary mega-cap Internet performance drivers as opposed to the mean reversion trade (i.e., buying depressed/ selling elevated multiples).”

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Where the price stands

GOOGL trades at $283. The 31 analysts who set a target in the last 3 months range from $300 to $485, with a median of $400. This $400 target is in line with the median.

Since the note GOOGL has moved −14% (from $328). 12-month window: day 287 of 365, closes on January 22, 2027.

Track record

This call✓ Target reached on May 8, 2026, 3 months after the note.

Firm track recordRaymond James: 73% of its 11 targets at least a year old were reached within 12 months. Accuracy ranking →

Raymond James on Alphabet (Google)

Raymond James price targets on Alphabet (Google)

2 calls from January 22, 2026 to February 5, 2026. The target stayed at $400. The rating stayed Buy.

Raymond James targetGOOGL share price
  1. February 5, 2026Kept the $400 targetBuy$400
  2. January 22, 2026 This noteEarliest call shownBuy$400
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Other analysts on Alphabet (Google)

Wells FargoBuy Cut price target −2%, kept rating Nov 2 $365from $371 Wells FargoBuy Cut price target −11%, kept rating Oct 30 $371from $417 TD CowenBuy Cut price target −5%, kept rating Oct 29 $460from $485 BMO CapitalBuy Cut price target −11%, kept rating Oct 29 $425from $480 CantorBuy Cut price target −17%, kept rating Oct 29 $350from $420
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.